From: James D. Finneran
Sent: March 31, 2005
Subject: File No. S7-06-04

To the SEC:

I believe this rule it duplicative and therefor unnecessary. The first thing I do when recommending an equity investment is go over the costs, expenses, fees and surrender charges if any I use the prospectus for this and most times the sales materials have that information clearly stated. Perhaps the SEC and the investment industry should do more educating of the public on how to read the material we give them, ie, prospectuses. Requiring another form on top of all the forms that are now required is counter productive. I thought the government was going to reduce paperwork, that is what they keep telling us. The seem to be talking out of both sides of their mouth. One side says, "we have the paperwork reduction act." The other side says, "We are requiring more forms for you to fill out with the customer." Which is it???

James D. Finneran, PFP, Financial Advisor, President, The Finneran Group, Inc., Regional Mgr. for Va. Retirement Specialists, Inc.